December 15, 2025–Written by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)–Declines in production from non-OPEC countries such as the United States and Brazil led to a drop in global oil supplies, the International Energy Agency said in lowering its glut expectations.
The International Energy Agency in its flagship oil market report cut its expectations for an oversupplied market for the first time since May. The agency in its report, published Thursday, said the “relentless surge in global oil supply came to an abrupt halt.”
